Metaverse gaming platform Cosmic Guild raised a sum of $1.5 million in seed funding led by Binance Labs – the investment and innovation incubation arm of Binance.
As announced by the trading platform, the funds raised from venture capital firms will be used to expand Cosmic Guild’s portfolio of NFTs and digital game assets to offer more opportunities to Cosmic’s community of gamers.
Cosmic Guild serves as a play-to-earn community for gamers called ‘scholars’ where they connect with the gaming ecosystem’s in-game characters or NFTs. Comic Guild helps these scholars thrive within its ecosystem and gain adequate rewards for their skills with minimal out-of-pocket investment.
“Our mission is to empower individual gamers across different societies and come together as gamers, to not just play-to-earn, but to also play for fun, form meaningful friendships and have fun together in the metaverse. We hope to serve as the gateway platform for gamers and NFT-owners and as the confluence of capital and talent to meet,” said Kenneth Lee, Co-founder of Cosmic Guild, adding that, “Cosmic Guild is planning to support upcoming games launching on Binance Smart Chain and other games in the Binance ecosystem, and the team is excited to make announcements soon.“
At present, Cosmic Guild provides in-game characters for Axie Infinity, Thetan Arena, Pegaxy and several others. Over 600 scholars are being supported to play on Axie Infinity, and the ecosystem has over 1250 more gamers waiting to be included in its scholarship or funding program. As per the announcement, Cosmic Guild will be able to loan gaming NFTs to more scholars and expand their gaming portfolios with the newly secured funds.
Alameda Research, DeFiance Capital, and Play Ventures also participated in the funding round, all of whom took advantage of the growing hype in the DeFi, NFT, and metaverse world respectively.
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